June 2024 Market Update

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What the Bank of Canada rate cut means for mortgages, consumer loans and investments

The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75 per cent. Here's what it could mean for your finances.What does it mean for consumers and prime rates?The Bank of Canada's benchmark rate affects borrowing costs for banks, which means they're able, but not forced, to lower their own lending rates.READ MORE Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog
Abbotsford
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Cloverdale
Coquitlam
Greater Victoria
Kelowna
Ladner
Langley
Maple Ridge
Mission
Nanaimo
New Westminster
North Delta
North Okanagan
North Surrey
North Vancouver
Parksville / Qualicum
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
Saanich Peninsula
South Okanagan
South Surrey/White Rock
Squamish
Sunshine Coast
Surrey - Central
Tsawwassen
Vancouver - East
Vancouver - West
Vancouver Island
Victoria Core
Westshore
West Vancouver
Whistler

More than 40 fun and fantastic things to do in Vancouver in June

June has arrived, summer is just around the corner, and Metro Vancouver is filled with fantastic events to check out.READ MORE 

B.C. Real Estate News

MACDONALD REALTY IN THE NEWS

If Bank of Canada interest rates are cut, it may shake up BC's housing scene (DailyHive)

LOWER MAINLAND

Inventory Continues To Outpace Sales In Greater Vancouver Real Estate Market (STOREYS)"Surprise" softening of home sales in Metro Vancouver, but listings trend upwards (DailyHive)West Vancouver council rejects provincial housing rules (North Shore News)

VICTORIA AND VANCOUVER ISLAND

Victoria sees increase in active listings (Business Examiner)

OKANAGAN

Housing prices falling, supply increasing across Okanagan (MSN / Global News)

BRITISH COLUMBIA

Spring inventory continues to build in the Fraser Valley to levels not seen in nearly five years (Financial Post)Fraser Valley Real Estate Inventory At Highest Levels Since Before COVID (STOREYS)

CANADA

Bank of Canada cuts key interest rate to 4.75% (CBC News)